Vodacom Group Limited (OTCPK:VODAF) Q3 2023 Earnings Conference Call November 14, 2023 4:30 PM ET

Company Participants

Leonor Faber - Assistant to Chief Executive Officer

Dana Brown - President & Chief Executive Officer

Eric Lonnqvist - Chief Financial Officer

Conference Call Participants

Per Ostlund - Craig-Hallum Capital

Operator

Good day, everyone and welcome to the iCAD, Inc. Third Quarter 2023 Earnings Call. At this time, all participants have been placed in a listen-only mode and we will open the floor for your questions and comments after the presentation.

It is now my pleasure to turn the floor over to your host, Leonor Faber. Ma'am, the floor is yours.

Leonor Faber

Thank you, operator. Good afternoon, everyone. Thank you for joining us today for iCAD's third quarter 2023 earnings call. On the call today, we have Dana Brown, our President and Chief Executive Officer; and Eric Lonnqvist, our Chief Financial Officer.

Before turning the call over to Dana, I would like to remind everyone that we will be making forward-looking statements on the call today. These forward-looking statements are based on iCAD's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations. For a list of factors that could cause actual results to differ, please see today's press release and our filings with the U.S. Securities and Exchange Commission. iCAD undertakes no obligation to revise or update any statements to reflect events or circumstances after the date of this conference call. I would also note that management will refer to certain non-GAAP financial measures. Management believes that these measures provide meaningful information for investors and reflect the way they view the operating performance of the company. You can find a reconciliation of our GAAP to non-GAAP measures at the end of the earnings release.

With that, I'll turn the call over to Dana.

Dana Brown

Thank you, Leonor and good afternoon, everyone. Let's begin with our business update.

On October 23, we announced that Elekta, a world leader in brachytherapy solutions acquired Xoft, our therapy subsidiary for approximately $5.5 million and assumed liabilities. As previously disclosed, we have been in the process of exploring strategic options for the Xoft business that would accelerate the accessibility of this technology and provide more focus and synergies to its growth.

We're pleased that Elekta has acquired the Xoft subsidiary, along with both the technology and the team. We're confident that the Xoft technology under the leadership of John Lapre, will continue to positively impact the lives of cancer patients and the providers who care for them on a global scale. Elekta took over the business effective immediately upon signing and have completed their final payments. Later in this call, Eric will provide further updates on the transaction and its impact on cash, our balance sheet and operations. Our thanks to the outstanding work of the Craig-Hallum Capital Group who served as advisers to us for this transaction.